Voxx International Corp. (VOXX) Trading Up 31.4% Following Strong Earnings
Voxx International Corp. (NASDAQ:VOXX) was up 31.4% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $3.55 and last traded at $3.35, with a volume of 1,597,070 shares. The stock had previously closed at $2.55.
The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.13. The business earned $159.30 million during the quarter. Voxx International Corp. had a positive return on equity of 0.78% and a negative net margin of 0.93%. Voxx International Corp.’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS.
Separately, Zacks Investment Research raised Voxx International Corp. from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, July 20th.
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In other news, Director Ari Shalam acquired 13,333 shares of Voxx International Corp. stock in a transaction dated Tuesday, October 4th. The stock was purchased at an average cost of $2.99 per share, for a total transaction of $39,865.67. Following the completion of the purchase, the director now directly owns 7,734 shares in the company, valued at approximately $23,124.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Denise W. Gibson acquired 32,100 shares of Voxx International Corp. stock in a transaction dated Friday, September 16th. The stock was purchased at an average price of $3.13 per share, with a total value of $100,473.00. Following the completion of the purchase, the director now owns 20,400 shares of the company’s stock, valued at $63,852. The disclosure for this purchase can be found here. 17.51% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Springbok Capital Management LLC boosted its position in shares of Voxx International Corp. by 12.3% in the first quarter. Springbok Capital Management LLC now owns 27,390 shares of the company’s stock valued at $122,000 after buying an additional 2,990 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Voxx International Corp. by 28.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,500 shares of the company’s stock valued at $133,000 after buying an additional 10,500 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Voxx International Corp. by 95.7% in the second quarter. Oppenheimer & Co. Inc. now owns 54,800 shares of the company’s stock valued at $153,000 after buying an additional 26,800 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Voxx International Corp. during the second quarter valued at $243,000. Finally, Renaissance Technologies LLC boosted its position in shares of Voxx International Corp. by 307.5% in the first quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock valued at $268,000 after buying an additional 45,200 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.
The firm’s 50-day moving average is $2.99 and its 200 day moving average is $3.31. The company’s market capitalization is $80.33 million.
About Voxx International Corp.
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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